Originally posted by BoredBloke
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Switzerland take home
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Switzerland take home"
Collapse
-
Originally posted by BR14 View Posthow long will you be in Geneva? if you're there long enough, you'll be tax resident there.
Leave a comment:
-
how long will you be in Geneva? if you're there long enough, you'll be tax resident there.
Leave a comment:
-
Cheers for the comments. Can anybody confirm my thinking on the tax front. My guess, from a bit of reading round is that while I stand to lose about 35% in Switzerland, only 25% will be due to tax and HMRC will expect the missing 15%. Meaning that it would be taxed at 50% or there abouts
Sent from my SM-G950F using Contractor UK Forum mobile app
Leave a comment:
-
Originally posted by BoredBloke View PostJust wanting somebody to check my assumptions on this. I'm up for a role in Geneva. Because I'll be a uk resident for tax purposes I'll essentially have to pay tax at uk levels. So in geneva I'll see about 35% of the total after fees and taxes from the management company. However as the actual tax element of this is about 25% I'll be looking at making up the difference with HMRC. As I'll be almost at the 40% bracket due to the amount I've drawn from my company already this year,, this means I'll be having to stump up about 15% to make up the difference. So overall I'll be losing half to taxes and fees between Switzerland and here. That's not even considering medical insurance fees and expenses.
So if the rate is 900chf, that'll be 450chf after taxes. So for a 20 day month that's 9k chf or about £7.5k so assuming 2k in expenses it's suddenly down to 5.5k per month.
Is there anything I've missed and should be aware of?
Sent from my SM-G950F using Contractor UK Forum mobile app
Leave a comment:
-
Switzerland take home
Just wanting somebody to check my assumptions on this. I'm up for a role in Geneva. Because I'll be a uk resident for tax purposes I'll essentially have to pay tax at uk levels. So in geneva I'll see about 35% of the total after fees and taxes from the management company. However as the actual tax element of this is about 25% I'll be looking at making up the difference with HMRC. As I'll be almost at the 40% bracket due to the amount I've drawn from my company already this year,, this means I'll be having to stump up about 15% to make up the difference. So overall I'll be losing half to taxes and fees between Switzerland and here. That's not even considering medical insurance fees and expenses.
So if the rate is 900chf, that'll be 450chf after taxes. So for a 20 day month that's 9k chf or about £7.5k so assuming 2k in expenses it's suddenly down to 5.5k per month.
Is there anything I've missed and should be aware of?
Sent from my SM-G950F using Contractor UK Forum mobile appTags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: